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Which Factors Will Induce a Change in the Demand for Diabetes Diagnostics During the Assessment Period

The market report envelopes an all-in information of the global Diabetes Diagnostics market and the nature of the market growth over the foreseeable period. The report provides a comprehensive elaboration of the positives and negatives of the global Diabetes Diagnostics market with DROT and Porter’s Five Forces analysis. With SWOT analysis, the report offers detailed insights about different players operating within the Diabetes Diagnostics market. In addition, the analysts of the report have served the qualitative and quantitative scrutinizing of different micro- and macro-economic factors influencing the global Diabetes Diagnostics market.

Rising cases of type 2 diabetes due to unhealthy lifestyle practices and increasing obesity rates are expected to drive the diabetes diagnostics market, finds Fact.MR. According to the World Health Organization (WHO), prevalence of diabetes in people over the age of 18 rose from 4.7% in 1980 to 8.5% in 2014.

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The International Diabetes Federation also stated that, around 425 million people were suffering from diabetes in 2017, and around 630 million cases are expected to be reported by 2045.

The WHO report also states that, excess body weight and increasing inactivity are key causes of diabetes. With this, demand for diabetes diagnostics is expected to increase across regions. Adoption of universal screening for gestational diabetes mellitus is expected to drive economic growth in the industry.

Key Takeaways from Diabetes Diagnostics Market Report

  • Asia Pacific will continue offering lucrative prospects as incidence of diabetes rises due to increasing prevalence of unhealthy lifestyle. Demand from India and China will support overall expansion of the diabetes diagnostics market in the region.
  • Hospitals will continue exhibiting high demand as an increasing number of patients opt for regular checkups
  • Analog glucose monitors continue to garner steady revenue as newer technologies are yet to be adopted widely across healthcare facilities
  • Increasing support from governments is driving innovations in the diabetes diagnostics market. For instance, the Australian government announced a US$ 100 million funding to subsidize glucose monitoring devices under the National Diabetes Services Scheme

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Research and Development Efforts to Boost Growth

Developments in the food and information technology sector have transformed the diagnosis of diabetes. For instance, the launch of novel technologies such as Dexcom G6 a standalone CGM, sugarBEAT CGM a non-invasive glucose monitoring method, and AerBetic have revolutionized the market. These technologies are changing the way diabetes diagnostics traditionally worked, from conventional blood sample testing and monitoring they are now using smart phone linkage to promote noninvasive diagnosis.

Advancements in continuous glucose monitoring such as development of potent disease prevention and smart prediction algorithms for automated control proves will boost the diabetes diagnostics market. For instance, devices such as the InPen and Gocap allow users to keep track of their insulin dosage by connecting the device via bluetooth to their smartphones. Players are increasingly focusing on developing easy to use, accurate, and non-invasive techniques for glucose testing.

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Diabetes Diagnostics Market: Segmentation

Fact.MR has studied the diabetes diagnostics market with detailed segmentation on the basis of by product type, end user, and key region.

  • Biochips
  • Test Strips
  • Lancets
  • Analog Glucose Monitors
  • Continuous Glucose Monitors
End User
  • Hospitals
  • Clinics
  • Diagnostics Centers
  • Homecare Settings
  • North America
  • Europe
  • Latin America
  • Middle East & Africa
  • Oceania
  • East Asia
  • South Asia

Some of the companies operating in the diabetes diagnostics market are Abott Diabetes Care Inc., Becton, Dickinson and Company, EKF Diagnostics Holdings Plc, OSANG Healthcare Co. Ltd., Apex Biotechnology Corporation, Ascensia Diabetes Care Holdings AG, Beckman Coulter Inc., A. Menarini Diagnostics Ltd., Trividia Health Inc., Tandem Diabetes Care Inc., PTS Diagnostics, Diazyme Laboratories Inc., Medtronic Plc, Treumo Corporation, Sinocare Inc. and Nova Biomedical Corporation.

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Last Updated: 31-Aug-2021